The financial coach provides direct services to low to moderate-income individuals who are enrolled as Financial Opportunity Center (FOC) participants. The financial coach should have the ability to engage and motivate clients, a strong understanding of personal finances, and the ability to teach that knowledge to others. The financial coach is responsible for assisting participants with obtaining supportive government benefits, assist clients in developing plans of action that are intended to help the client reach their goals and achieve financial stability. The financial coach is expected to focus services in a one on one coaching format. However, the coach will also conduct classes and workshops on topics such as budgeting, credit building, banking, etc.
The financial coach will work with the SER staff to ensure that the client is getting assistance across these three major service areas. The financial coach reports directly to the Financial Opportunity Center Coordinator.
Responsibilities for the financial coach position include, but are not limited to:
Providing one on one financial coaching by
Creating a financial action plan and conducting a general benefits screening
Discuss all benefits for which the client is eligible and assist the clients through the application process, as needed
Maintain contact with the client and monitor the status of their applications (e.g. lost, approval, denial, re-certifications, etc.)
Teach clients about the value of their services and engage the client in a long-term relationship
Assist clients in resolving current financial situations, while providing a wide lens on their financial health to shift the approach to proactive financial management
Work with clients to complete a financial assessment which includes:
A Financial Health Assessment
Documenting a budget and providing strategies for budget improvements
Access the clients credit report/score and provide strategies for credit building
Document the client’s balance sheet and provide strategies for increasing net worth
Develop plans of actions and provide tools, resources, and accountability to the client to help them meet their goals
Understand other services offered by the agency, such as digital literacy, employment and training services, and connect the clients to these other services
Outcome tracking—track the stories and successes of program participants
Use Sales Force to case note and reflect the outcomes of their clients accurately and in a timely manner
Complete and update the Combined Financial Assessment (CFA) for clients to reflect changes to their budget, credit report and balance sheet via income supports (e.g. food stamps), new job and or change in credit score
Conducting financial workshops/Outreach
As a means of outreach and education teach workshops to community organizations, banks, credit unions, etc. Also within organization as a part of a larger job readiness class offered.
Develop workshop materials or tailor existing materials that are relevant to the community, may include topics such as: budgeting, savings, banking products, credit building, identity theft, and more.
Attend community events, fairs and classes to promote SER/FOC programs and services
Develop relationships with local financial institutions and community organizations
Cultivate a strong relationship with the local DHS (Dept. of Human Services) office. Advocate for the client as needed.
Create a network of referral organizations to help you assist the client in obtaining income supports and meeting their financial goals (e.g. low income housing, banks, legal aid etc.)
Work with mainstream financial institutions to understand the needs of the community so they can provide products and services that fit
Qualifications for the financial coach position include, but are not limited to:
Required: Bilingual in Spanish
Preferred: Bachelor’s Degree from a four year accredited institution
A strong understanding of personal finances, particularly in the areas of budgeting, asset building, and credit building
Previous work experience in the financial sector (banking, lending, insurance, investments)
Communication: Strong communication skills, both written and oral
Proficient in Microsoft Word, Excel, and PowerPoint
A propensity to learn government benefits programs rules and requirements and competent at following directions, filling out forms, and applications